Dec 4, 2012 4:00pm PST
forgets that president clinton raised taxes on the wealthy and created 22 million jobs. president bush cut taxes on the wealthy and created 1 million jobs. so his economic expertise is a little behind here. but the truth of the matter is, everybody voted in this election, the president said he would raise taxes on people earning over $250,000. that's what he's going to do. that's what's going to happen. he has the authority of an election behind him. running for office is a difficult thing to do, and the people that win the elections have a lot more moral authority than in a democracy than people who talk about elections. >> ryan, that does seem to be the point. republicans may not like it, but that wasn't what this election said american people want. the majority of them. >> i think it's certainly true you have a large number of americans, 60%, according to a "washington post" abc news poll who favor raising taxes on folks earning more than $250,000 a year. but there are a couple other things to keep in mind, as well. president obama often talks about returning to clinton era tax rates.
Dec 4, 2012 3:00am PST
your tax system is. and it's pretty low now. you know compare it to the clinton era rates, which is kind of all we're talking about, right? going back to the clinton era rate of 39% -- >> is it about fairness? or is it about lessening the deficit? because it doesn't really do a whole lot for the debt or deficit over ten years. >> well, it's about fairness, but it's also about what are the better options? given that the wealthy are really skating by these days. and so how do you collect more revenue from them? and all the various ideas about, well, you cap this deduction, and cap that deduction. there are not only political constituencies that will fight tooth and claw on every deducti deduction, there are some reasons, fairly good reasons why you would want to think twice. you know, are you going to go after home mortgage deduction at a time when the housing industry is trying to get its feet? are you going to go after the exemption on taxation for health insurance? i mean, that's the biggest one, actually. that's like $250 billion a year. but i don't think anybody wants to dive